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The data for five different types of commodities is mentioned as per the current year (2020) and a base year 2016 respectively as Σp1 = 165, Σp0 = 150. What will be the percent increase in the value of the index number over the period of 2016 to 2020 as per the simple aggregated method?
What will be the value of the index number as per the simple average of the prize relative to the given?
Commodities
Base price
Current prize
A
16
12
B
20
21
C
3
D
2.5
If p1 = Price in the current year, q1 = quantity in the current year, po = price in the base year, q0 = quantity in the base year, the formula of Laspeyres Price index is given as:
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